Corn futures are trading with fractional to 2 cent gains so far on Tuesday, pulling off early weakess. There were another 9 deliveries issued against July corn overnight. The CmdtyView national average Cash Corn price is a penny higher at $4.09 3/4.
The weekly Crop Progress report showed 16% of the US corn crop silking by July 5, 2 percentage points ahead of the 5-year average, with 3% in the dough stage. US condition ratings were left at 67% in good to excellent condition, as the Brugler500 index was also steady at 371. Improvement (via the Brugler500 index) was noted in MI (+19), MN (+7), SD (+5), MO (+4), and IA (+1). Deterioration was seen in TX (-14), OH (-12), NE/IL/KS (-5), ND (-4) and IN (-2).
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
CFTC data released a day late due to the holiday, showed the managed money net short in corn futures and options trimmed by 23,482 contracts to 46,209 contracts as of June 30.
Jul 26 Corn is at $4.41 1/4, up 1/2 cent,
Nearby Cash is at $4.09 3/4, up 1 cent,
Sep 26 Corn is at $4.39 1/2, up 1 1/4 cents,
Dec 26 Corn is at $4.59 1/2, up 1 3/4 cents,
New Crop Cash is at $4.10 0/1, down 3/4 cent,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.